EIB of­fers € 155m fund­ing to bank­ing and ed­u­ca­tion

Financial Mirror (Cyprus) - - FRONT PAGE -

The Euro­pean In­vest­ment Bank signed two loan agree­ments on Fri­day to fund ex­pan­sion plans at the state Univer­sity of Cyprus and to in­ject liq­uid­ity into the bank­ing sec­tor, worth a to­tal EUR 155 mln, with the aim of boost­ing SMEs and tack­ling youth un­em­ploy­ment.

In a speech de­liv­ered at the Univer­sity of Cyprus, EIB Pres­i­dent Werner Hoyer re­called the projects that the EU bank fi­nanced in Cyprus in 2014 and reaf­firmed the EIB’s strong support for the coun­try and in par­tic­u­lar for its knowl­edge econ­omy.

Ear­lier, Hoyer met with rep­re­sen­ta­tives from Cypriot banks to sign credit lines to­talling EUR 75 mln in support of small and medium-sized en­ter­prises (SME) in ad­di­tion to lend­ing ear­lier this year for 110 mln.

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